Fair value estimates make the audit

Assignment Help Auditing
Reference no: EM13884259

1.Briefly explain why accounting standards related to fair value estimates make the audit of financial instruments more complex.

Reference no: EM13884259

Questions Cloud

Compares the date of deposit according to the books : 1.Explain why an auditor compares the date of deposit according to the books to the date of disbursement according to the books on an interbank transfer schedule to detect kiting.
Find the p-value of a two-tailed test : Find the p-value of a two-tailed test if x (x bar) =51.8 and s =10.4. P= ___ (rd. to 4 dec. places). Find the p-value of an upper-tailed test if x (x bar) = 51.8 and s= 10.4. P= ___ (rd. to 4 dec. places)
What factors led to the mortgage default crisis? : What factors led to the mortgage default crisis?
Start on the completion of construction : Construction will take two years, and the capital will be paid in two equal increments, at the end of the first and second years. The savings (income) can be taken as paid at the end of each year. Production will start on the completion of constru..
Fair value estimates make the audit : 1.Briefly explain why accounting standards related to fair value estimates make the audit of financial instruments more complex.
Adsorption system to recover solvent : An electronics plant uses an adsorption system to recover solvent from a vent gas stream and prevent volatile organic compound (VOC) emissions. The vent gas flow rate is 20 m3 /s of dry air at 293 K, 1.5 atm.
Realizable value audit objective for a financial instrument : 1.How would an auditor test the realizable value audit objective for a financial instrument classified as a level 3 fair value estimate?
Explain the reduced cost associated with standard desks : Develop a linear mathematical optimization model to determine how many of each desk the company should make next week to maximize profit contribution. Explain the reduced cost associated with standard desks
Tanker outlet constriction and the pipe fittings : Miscellaneous friction losses due to the tanker outlet constriction and the pipe fittings in the inlet piping are equivalent to 1000 equivalent pipe diameters. The vapor pressure of chlorine at the maximum temperature reached at the pump is 685 kN..

Reviews

Write a Review

Auditing Questions & Answers

  Internal audit

Describe and evaluate this type of internal audit. What types of organisation would it be most useful for?

  Accounting professional and ethical standards

Code of Ethics for Professional Accountants

  Prepare swag''s consolidated balance sheet

Prepare Swag's consolidated balance sheet

  Auditing and assurance

Notable operational challenges for 4X Heavy Ltd faced in 2012/2013 were but not limited to

  State of the company’s industry and associated risk factors

Audit partner is concerned about his lack of knowledge of the industry the company is operating in, state of the company's industry and associated risk factors

  Prepare a memo to the audit partner

Prepare a memo to the audit partner on the ‘state of the company's industry' and associated risk factors.

  Adjusting or non- adjusting events

State whether Event is adjusting or non-adjusting event.

  Audit financial data

As a consequence an accounts payable clerk and financial accountant were made redundant from the business during the year.

  Identify principal audit risk

To identify principal audit risk and corresponding audit procedures

  Auditing and assurance

Show the audit inherent risk and rate the risk as low, medium or high.

  National health reform

Explain the role of the following three 'bodies' in National Health Reform

  Prepare a memo on the state of the company''s industry

Prepare a memo on the 'state of the company's industry' and associated risk factors.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd